Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Lexington Four-Ninety, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of OMB Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Because the schedule presents only a selected portion of the operations of Lexington Four-Ninety, Inc., it is not intended to and does not present financial position, changes in net assets, cash flows of Lexington Four-Ninety, Inc.
De Minimis Rate Used: N
Rate Explanation: N/A